stablecoins | ForkLog

ForkLog 20 02.02.2024

Russia Proposes Amendments for Stablecoin Use in Foreign Trade

A group of deputies from the Communist Party faction has submitted a bill to the State Duma introducing the concept of a secured stablecoin and permitting its use in foreign trade transactions. The document is published in the parliamentary electronic database. The amendments are proposed for the law “On Digital Financial Assets” (“On DFA”) and […]

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ForkLog 20 01.02.2024

Tether’s Q4 Net Profit Reaches $2.9 Billion

Tether, the issuer of the USDT stablecoin, reported a record net profit of $2.9 billion for the October-December period, according to its attestation report. Of this amount, $1 billion was attributed to interest from U.S. Treasury bonds, with the remaining sum resulting from positive revaluation of reserves in gold and bitcoin. The net profit for […]

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ForkLog 20 29.01.2024

Hong Kong Seeks Approval for Spot Bitcoin ETF

The Hong Kong branch of China’s asset management firm, Harvest Fund Management, has submitted a proposal to the Securities and Futures Commission (SFC) to launch a spot bitcoin ETF, according to Tencent News. The publication notes that the regulator may permit the listing of the product after the Lunar New Year celebrations conclude on February […]

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ForkLog 14 22.01.2024

Solana’s Stablecoin Transfer Volume Hits Record $303 Billion

Since the beginning of the year, the volume of stablecoin transfers on the Solana blockchain has reached $303 billion. This figure has already surpassed the December 2023 value of $297 billion and has grown 26.2 times compared to January last year ($11.56 billion), according to Artemis. Stablecoin transfer volume surpassed $367 billion for the week […]

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ForkLog 36 18.01.2024

TUSD Stablecoin Dips to $0.97

On January 18th, the depegging of the stablecoin TrueUSD (TUSD) intensified, with its price dropping to $0.97, according to CoinGecko. TUSD Quotes. Source: CoinGecko. The stablecoin began losing parity with the US dollar on January 15th. Over the past 24 hours, Binance users sold TUSD in exchange for USDT amounting to approximately $301 million, while […]

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ForkLog 32 16.01.2024

Circle CEO Predicts U.S. Leadership in Stablecoin Regulation

Jeremy Allaire, founder and CEO of Circle, has expressed optimism about the prospects for global stablecoin regulation in 2024, predicting that the United States will take the lead. The head of the USDC issuer believes that as part of broader cryptocurrency regulations, U.S. authorities will propose investor protection standards for the stablecoin sector. Allaire opines […]

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ForkLog 39 16.01.2024

TUSD Stablecoin Loses Dollar Peg

On January 15, the “stablecoin” TrueUSD (TUSD) lost its parity with the US dollar, dropping by 1.3% to $0.984. TUSD Chart. Data: CoinMarketCap. The loss of the peg occurred amid a significant volume of TUSD sales on the Binance crypto exchange. At the time of publication, traders had sold stablecoins worth over $451 million in […]

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ForkLog 19 15.01.2024

Fidelity Sees Benefits for DeFi and Stablecoins in Potential Fed Rate Cuts

Institutions may renew their interest in DeFi products and stablecoins if yields in TradFi decline due to the policies of the Federal Reserve. This forecast was presented by Fidelity. Analysts noted that the Federal Reserve’s rate hikes have driven institutions away from the crypto space towards safer traditional fixed-income instruments. According to the report, DeFi […]

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ForkLog 22 11.01.2024

Aave Community Backs Integration of PayPal’s PYUSD Stablecoin

99.99% of voters supported the integration of PayPal’s PYUSD into the DeFi platform Aave’s pools, achieving the necessary quorum. The initiative was overwhelmingly backed. Source: Aave. The vote commenced on December 18 and will conclude on January 11 at 8:21 UTC. The initiative followed a December decision by the decentralized exchange Curve to list PYUSD. […]

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ForkLog 26 29.12.2023

China’s authorities warn against using USDT

The Supreme People's Procuratorate of China issued a notification in which it deemed the use of USDT in cross-border currency operations illegal.

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ForkLog 5 27.12.2023

Tether mints $1 billion USDT as ‘inventory’ reserves

On December 24, Tether minted an additional $1 billion in USDT stablecoins on the Ethereum network.

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ForkLog 22 22.12.2023

Paxos to Launch USDP Stablecoin on Solana Network

The infrastructure blockchain company Paxos announced the launch of the 'stablecoin' USDP on the Solana network from 17 January 2024.

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